Reading Time: 2 minutes Spring wheat bids in Western Canada were mostly lower during the week ended Dec. 21, as strength in the Canadian dollar and losses in the United States futures weighed on values.
Rising loonie and weaker futures weigh on spring wheat bids
The Canadian dollar strengthened relative to its United States counterpart
More local barley destined for rations, but U.S. corn still moving
Prior to drought year 2021/22, Canadian corn imports had rarely topped two million tonnes
Reading Time: < 1 minute Recently revised supply/demand tables from Agriculture and Agri-Food Canada raised the forecast for domestic barley usage in the current crop year to 6.155 million tonnes. That compares with an earlier forecast of 5.471 million tonnes. If realized, that would be up by roughly 200,000 tonnes from the previous year.
Good quality Canadian malt barley despite lower yields
CDC Copeland acres declined, with AAC Synergy the most popular malting variety
Reading Time: 2 minutes Hot and dry growing conditions cut into barley yields in Western Canada in 2023 but the quality was generally good, according to the yearly annual harvest report on barley quality from the Canadian Grain Commission (CGC).
Tight Canadian lentil carryout expected
Tightest lentil stocks since July 2010 forecasted
Reading Time: < 1 minute Canadian lentil stocks are forecast to be extremely tight by the close of the 2023/24 marketing year, which should keep prices well supported despite expectations for a smaller export program.
Speculative net short position in canola hits new record
CBOT long liquidation saw the net long position in soybeans dip
Reading Time: < 1 minute The net short position in canola futures climbed to a new record large level in mid-December, as speculators added to their bearish bets for the second week in a row, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
AAFC raises canola, wheat ending stocks forecasts
Pea, barley carryout estimates raised, lentils cut in half
Reading Time: < 1 minute Glacier FarmMedia – Canadian canola and wheat carryout for the 2023/24 marketing year will likely end up above earlier projections, according to the latest Outlook for Principal Field Crops from Agriculture and Agri-Food Canada (AAFC) released Dec. 15.
ICE weekly outlook: Drifting market in need of outside support
South America growing conditions likely price driver in soy markets for next months
Reading Time: < 1 minute The ICE Futures canola market remained under pressure heading into the New Year, lacking any significant supportive news of its own that could spark a move higher.
Funds back adding to shorts in canola after month of covering
Corn traders were on the other side of the market
Reading Time: < 1 minute After a month of covering short positions, fund traders were back adding to their bearish bets to start December, with the net short position in the oilseed growing by roughly 13,000 contracts, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
USDA lowers wheat carryout calls, minor adjustments elsewhere
Corn production in Argentina and Brazil left unchanged in new report
Reading Time: < 1 minute Wheat ending stocks in the United States and around the world may be tighter than earlier thought, according to the latest supply/demand estimates from the U.S. Department of Agriculture released Dec. 8.
China accounting for bulk of Canadian canola exports so far
Chinese wheat imports roughly half of last years' at same time
Reading Time: 2 minutes China has done most of the heavy lifting when it comes to Canadian canola exports through the first three months of the 2023/24 marketing year (Aug/Jul), according to the latest international trade data released Dec. 6.
Statistics Canada reported canola exports through October at 1.566 million tonnes, with China accounting for 64 per cent of the total (1.006 million tonnes). Japan and Mexico followed at 273,300 tonnes and 196,900 tonnes respectively.
A message from April Stewart, Country Guide's Associate Editor
